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A disclosure with the Securities & Exchange Commission shows that former co-CEO of BlackBerry (NASDAQ:BBRY), Jim Balsillie, sold all his shares in the company. The immediate response was swift, with the stock price plunging by 5%.

But it didn’t stay down for long. In fact, the shares are now up over 5%!

For the most part, Balsillie’s move was really not that important. Let’s face it, he’s no longer a factor at BlackBerry. He also sold 26.8 million shares of the stock. Keep in mind that BlackBerry has average trading volume of 61 million shares per day, and Balsillie’s sale will be spread out over time.

If anything, the company is likely to show continued momentum, at least for a couple quarters. Its new BB10 system appears to be fairly decent and should get uptake from the existing customer base, especially in markets in Canada, Europe and the Middle East.

BlackBerry’s big problem is the long haul. For the most part, developers will probably still prefer to spend their time creating apps for platforms that continue to grow, such as Apple’s (NASDAQ:AAPL) iOS and Google’s (NASDAQ:GOOG) Android.

BlackBerry will also likely see continued deterioration in its enterprise business. A stark reminder of this is Home Depot’s (NYSE:HD) recent decision to drop the device in favor the iPhone. It wouldn’t be surprising that other major customers take the same approach as they look for lower-cost alternatives and devices with stronger capabilities.